Commercial property proving a drawcard for North Coast buyers
Media release - 16 April, 2012
Byron Bay commercial a 'hot prospect'
- Raine & Horne Byron Bay records over $5 million in commercial sales in recent months
- Investors attracted by commercial development opportunities
- Retail/residential premises at 39 Fletcher Street Byron Bay expected to generate a high level of interest
Commercial premises on the NSW North Coast are in the sights of investors, with several promising sales in the Byron Shire in recent months, according to leading local property firm Raine & Horne Byron Bay.
“Our office has recently secured the sales of two prime commercial holdings in the region, as well as several smaller commercial premises and businesses, and this is proof positive of the developing interest in Byron commercial property,” said Ms Perkins.
“The first of our recent sales, a prime retail premises at 58 Jonson Street, in the heart of the Byron Bay CBD, sold for $2.85 million.
“The purchaser was ultimately attracted by the immediate financial benefits on offer, with three existing retail tenancies in place on the premises,” added Ms Perkins.
In addition, Ms Perkins sold The Riverview Inn at Brunswick Heads during March.
The twelve-room motel, located at 2 The Terrace, Brunswick Heads, includes a manager’s quarters, a licensed restaurant and a position opposite the Brunswick River.
“This great property sold for $2.42 million, and the successful buyer has options for either improving or redeveloping the site.”
To add to these two sales, Ms Perkins says Raine & Horne Byron Bay has recently had another exciting commercial property come to market, which the firm is expecting to generate a lot of interest.
“This four bedroom, one bathroom property, located at 39 Fletcher Street, Byron Bay, is currently home to two retail outlets, and is ideally positioned between a doctor’s surgery and a retail/residential complex, which will further enhance the pedestrian traffic and increase the property’s exposure,” said Ms Perkins.
Located in Byron Bay’s prime retail and business precinct, the premises also enjoys close proximity to many of the town’s main retail centres, lifestyle areas, transport nodes, backpacker accommodation, and the Great Northern Hotel, as well as being only 250 metres to the nearest beach.
“This makes the property, which dates to circa 1908, an outstanding investment opportunity, with plenty of scope for improvement and future development.”
Raine & Horne Byron Bay will be holding an on-site auction at 39 Fletcher Street at 12 noon on Thursday 3rd May, with Ms Perkins expecting a high level of interest from astute investors.
The property can be viewed at the following link:
For further media information contact:
Janis Perkins, Property Consultant, Raine & Horne Byron Bay on 0438 841 122 / 02 6685 6588
Andrew Harrington, National Marketing & Communications Co-ordinator on 02 9258 5400